Struggling maker of dynamic random access memory, Qimonda AG, said on Friday that as it continues talks with potential investors, it would start to cut down production of memory in Dresden, Germany.

“Various investors have signaled their interest, but as yet there are no binding offers on the table. As anticipated, it will not be possible to reach a conclusive solution by the end of March. Talks with potential investors regarding a solution to keep Qimonda in operation will continue beyond the end of March 2009,” said preliminary insolvency administrator Dr. Michael Jaffé today after a meeting with the creditors committee.

The employees of the insolvent Qimonda AG and Qimonda Dresden OHG will be able to claim compensation by means of statutory insolvency payments until the end of March 2009. By the end of March, the bankruptcy court in Munich will also have received the preliminary insolvency administrator's report on the basis of which the court will make a decision on whether to open insolvency proceedings.